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☆ S&P 500 returns 15% in the first half in an unusually smooth ride
▼ + stars: | 2024-06-29 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

A 15% year-to-date total return in the S & P 500 is the 21 st best run through June since 1900, according to Goldman Sachs. The S & P 500 since the October 2023 correction low is up 33% for an annualized total return pace of 56%. The S & P has gone eight sessions without a move of as much as half a percent. True in magnitude: The market-cap-weighted S & P 500 has outgained its equal-weighted version by more than ten percentage points this year. Not only haven't up days been broadly inclusive, the direction of the S & P 500 has been running inverse to the daily breadth over the past month.

Persons: Goldman Sachs, Sharpe, it's, we'd, I've, What's, Jeff deGraaf, Trump, We've, Poor's, what's Organizations: Nvidia, Walgreens, Nike, Apple, Technology, Communication Services Locations: hiccups

☆ An options trade that wins if the red-hot chip trade cools off in the second half
▼ + stars: | 2024-06-28 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

Although Micron (MU) has not had Nvidia's meteoric performance, it has been a stellar stock, doubling in the last year and up over 50% in 2024. The AI boom has buoyed memory chips higher as these chips have become a more important component for artificial intelligence accelerators. However, the possibly unrealistic bar now being set for AI earnings reports saw Micron drop more than 7% on high volume. I want to express a short-term bearish view in Micron as I believe further profit-taking will occur in the third quarter. Micron is one of the largest semiconductor companies in the world, specializing in high-bandwidth memory and storage chips.

Persons: Long Organizations: Micron, Nvidia, JPMorgan, MU, CNBC, NBC UNIVERSAL Locations: CapEx

☆ Stock market today: Indexes cap stellar first half of 2024 with losses even after encouraging inflation report
▼ + stars: | 2024-06-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

US indexes ended the day lower, despite market excitement over the latest PCE data. The stock market closed 2024's first half strongly, with the S&P 500 up nearly 15%. "The soft inflation data will build the case that the Fed can start cutting rates in the coming months," LPL Financial chief economist Jeffrey Roach said. Currently, futures markets are pricing in the odds of twoThe soft inflation reading was not enough to keep the indexes in the green through Friday, but the stock market still strongly closed out the first half of 2024. Could these be harbingers of weakness to come, or will they take over as market leaders in the second half?"

Persons: —, Jeffrey Roach, that's, David Morrison, Dow, Russell Organizations: Service, Federal Reserve, Financial, Here's

Former President Donald Trump is the clear favorite when it comes to the stock market, according to the latest results of CNBC's Delivering Alpha Stock Survey. Of the 400 investors, traders and money managers polled, 67% said Trump would be better for stocks than President Joe Biden. The S&P 500 rose 68% during Trump's four years in office versus the 44% gain so far under Biden's administration. Seventy-seven percent of the survey respondents said they trusted the central bank to do right by the American economy, but 23% said they didn't trust the Fed. The 400 money managers who took the survey were evenly split on where they stand on the direction of the S&P 500 and Nasdaq.

Persons: Donald Trump, Trump, Joe Biden, there'll, we're Organizations: Alpha Stock Survey, Nasdaq, Biden, Federal Reserve

The third quarter starts on Monday with corporate earnings trends largely intact, but showing early signs of trouble in tech land. The good news: for the big-cap tech companies that are truly dominating the market ( Apple , Microsoft , Alphabet , Nvidia , etc.) Still no recession, in the economy or in earnings So far, we have a deceleration in big-cap tech earnings and clear signs the consumer wants lower prices. Earnings trends for tech may still be rising (even if it is decelerating), but the rest of the market is generally flattish on earnings. Earnings: rising Positive Tech earnings: rising but decelerating Negative Job growth: strong but moderating Positive Interest rates: moderating Positive Inflation: moderating Positive Consumer: increasingly cautious Negative

Persons: Jensen, Nick Raich, it's, Raich, Lori Calvasina, We've, I've, you've, Levi Strauss, General Mills, Tim Wentworth, Taco Bell, Mills Organizations: Apple, Microsoft, Nvidia, Big, Meta, Jensen Huang's, Scout, U.S, Equity, RBC Capital Markets, CNBC, Nike, Walgreens, Micron, FedEx, General, . Companies, Southwest Airlines, Pool Corp, Urban Outfitters, Yum Brands

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Nike, First Solar, Deere, Alphabet, Amazon, ASML & more
▼ + stars: | 2024-06-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Wells Fargo reiterates Nvidia as overweight Wells said it's sticking with its overweight rating on the stock. "We initiate coverage of net lease REIT Essential Properties (EPRT) with a Buy rating and $33.00 12-month price target. Citi reiterates Apple as buy Citi moved the tech giant up a spot to its number 2 top pick. Wells Fargo reiterates Amazon as buy Wells raised its price target on Amazon to $239 per share from $234. "We initiate coverage of Intuitive Machines, Inc. (LUNR) with a Buy rating and a 12-month price target of $8 per share."

Persons: Raymond James, Deere, it's, Morgan Stanley downgrades Nike, Morgan Stanley, Wells, Goldman Sachs, Goldman, Oppenheimer, Riley, Piper Sandler, Piper, managements, it's bullish, Rosenblatt, ASML Organizations: Deutsche Bank, Deutsche, Nvidia, Properties Realty Trust, Apple, Citi, Xerox, JPMorgan, Realty Trust, Inc, Travelers, Susquehanna, Nextracker, BMO, SAP Locations: Americas, China

☆ AI pioneer Illia Polosukhin, one of Google's 'Transformer 8,' wants to democratize artificial intelligence
▼ + stars: | 2024-06-27 | by ( Katie Tarasov | ) www.cnbc.com time to read: +2 min

Before Illia Polosukhin left Google in 2017, he had a brainstorming lunch and then returned to his desk to build what may have been the very first transformer, the neural network architecture that makes generative artificial intelligence possible. Seven of the "Transformer 8" joined Nvidia CEO Jensen Huang at GTC, Nvidia's annual developer conference in San Jose on March 20, 2024. From left to right: Lukasz Kaiser, Noam Shazeer, Aidan Gomez, Jensen Huang, Llion Jones, Jakob Uszkoreit, Ashish Vaswani and Illia Polosukhin. All eight of the authors have now left Google, although Polosukhin was the first to depart. Watch the video to hear the full conversation between CNBC's Katie tarasov and and Illia Polosukhin.

Persons: Polosukhin, Jensen Huang, Illia Polosukhin, Lukasz Kaiser, Noam Shazeer, Aidan Gomez, Llion Jones, Jakob Uszkoreit, Ashish Vaswani, OpenAI, Alexander Skidanov, CNBC's Katie tarasov, Illia Organizations: Nvidia, Google, CNBC Locations: San Jose

☆ Retail traders came out in force to buy the recent dip in AI darling Nvidia
▼ + stars: | 2024-06-27 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Retailer traders took Nvidia' s recent sell-off as a buying opportunity, snapping up shares of the dominant artificial intelligence chipmaker amid the volatility. The cohort bought $1.8 billion worth of Nvidia shares over the past week as the Jensen Huang-led company suffered a quick pullback, according to JPMorgan data. JPMorgan estimated that retail investors are up 179% trading Nvidia this year, topping the stock's year-to-date performance. Meanwhile, other megacap tech stocks fared poorly among individual investors last week, JPMorgan said. Advanced Micro Devices saw net sales of $163 million, Microsoft had a net drawdown of $158 million and Tesla $122 million.

Persons: Jensen Huang, Nvidia's Organizations: Nvidia, JPMorgan, Microsoft, Google, Oracle, Meta Locations: U.S

☆ Here are the portfolio's top 5 performing stocks since May's Monthly Meeting
▼ + stars: | 2024-06-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The stock market had another great run since the Club's May Monthly Meeting. Here's our top-five performing portfolio names since the May 30 close through Wednesday's close, the eve of our June Monthly Meeting. AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom took the top spot since the May Monthly Meeting, jumping 16.7% in that timeframe. And on Wednesday, the stock mounted a late-day comeback to close up 0.25% on the day of its annual shareholder meeting. Even with their recent comeback, Salesforce shares are down more than 10% from their close May 29.

Persons: —, We're, It's, Salesforce, Snowflake —, we've, Davidson, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Nasdaq, Club, Nvidia, Broadcom, dethroning Club, Microsoft, Tuesday's, Apple Intelligence, Apple, Rosenblatt Securities, Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Wednesday's, China, Palo, New York City

☆ Qatar's Ooredoo discusses Nvidia's Middle East launch
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQatar's Ooredoo discusses Nvidia's Middle East launchAziz Aluthman Fakhroo, CEO of the telecom company, discusses the origins of its deal with Nvidia.

Persons: Ooredoo, Aziz Aluthman Fakhroo Organizations: Nvidia

☆ Nvidia, Apple, other tech giants flash weakness. Here are buy levels to consider as entry points
▼ + stars: | 2024-06-26 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

Apple and Alphabet pulled back to the support levels we highlighted and have since rallied strongly. As we can see, $400 served as a key support level three times early this year (the second black horizontal line). Here, we are again applying the polarity principle and using prior resistance as the new support level. We see that $166 has proven a key support level (the top black horizontal line) ever since that post-earnings breakout. Nvidia Potential entry points: $120, $110, and $100 Just below Tuesday's close, around $120, that's a battleground level (the top black horizontal line).

Persons: It's, we've, We're, it's, Jim Cramer's, Jim Cramer, Jim Organizations: Apple, Nvidia, Microsoft, Amazon, Big Tech, Club, Apple Intelligence, Developers, CNBC, NVIDIA, Publishing, Getty Locations: HANGZHOU, CHINA, Hangzhou city, Zhejiang province, China

☆ Nvidia will hit a $6 trillion valuation by the end of the year as investors start to realize how cheap the stock is, hedge fund manager says
▼ + stars: | 2024-06-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Nvidia stock is still cheap based on a forward price-to-earnings multiple, according to a hedge fund manager. Eric Jackson expects Nvidia stock to hit $250 per share by the end of the year, doubling from current levels. Jackson expects Nvidia stock to hit $250 by the end of the year, representing potential upside of 101% from current levels. And it's all because Nvidia stock is still cheap on a valuation basis, according to Jackson. AdvertisementConstellation Research and Rosenblatt have a $200 price target for Nvidia stock, while Bank of America recently reiterated its $150 target.

Persons: Eric Jackson, —, EMJ Capital, Jackson, it's, Blackwell, Rubin, Jackson isn't, Rosenblatt Organizations: Nvidia, Service, EMJ, CNBC, Cisco, Wall, Constellation Research, Bank of America

☆ That job you're applying for might be fake
▼ + stars: | 2024-06-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how the next job you apply for might be fake . While employment is still relatively low, sitting at only 4% , the job market is also pretty stagnant. ANDREW CABALLERO-REYNOLDS/AFP via Getty ImagesEven if you find a legitimate job posting, it doesn't get much easier. Workers were also spoiled with the 2021 job market, where candidates named their prices . AdvertisementAnd a fake job posting might be a blessing in disguise.

Persons: —, Charles Schwab, MirageC, Jenny Chang, Rodriguez, Tim Paradis, it's, aren't, ANDREW CABALLERO, REYNOLDS, BI's Alexandra Bacon, Roberto Machado Noa, Tyler Le, Meta isn't, Apple, Mark Zuckerberg's, Mustafa Suleyman, execs, Suleyman, Karén Simonyan, Ricardo Tomás, Gen Z, Ashley Kostial, She's, he's, Julian Assange, Evan Gershkovich, Paris Hilton, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, BI, America, Getty, Workers, BI Citi, Citi, showtime, Nvidia, Meta, Wall Street Journal, Apple, Bloomberg, Investors, SAP, Aetna, Wall Street, The Locations: Hulu, New York, London

☆ U.S. chip curbs in Middle East just 'business as usual,' Ooredoo CEO says after Nvidia deal
▼ + stars: | 2024-06-26 | by ( Emma Graham | ) www.cnbc.com time to read: +4 min

Washington does allow the export of some Nvidia chips to the region, and Nvidia, AMD and Intel have all indicated plans to create less powerful chips for export to the Chinese market. Ooredoo earlier this week signed a partnership with Nvidia , marking the chipmaker's first large-scale entry into the Middle East market. Qatari telecoms provider Ooredoo told CNBC Wednesday that its new tie-up with Nvidia is compliant of all U.S. regulations and will still allow it to have access to the latest technology. Ooredoo told CNBC that the deal is compliant of all U.S. regulations. Ooredoo also committed to investing $1 billion to boost its regional data center capacity even before announcing its partnership with Nvidia.

Persons: Ooredoo, Aziz Aluthman Fakhroo, CNBC's Dan Murphy Organizations: Nvidia, AMD, Intel, United, Ooredoo, CNBC, United Arab Emirates, Microsoft, Qatar Investment Authority Locations: United States, China, Qatar, Kuwait, Oman, Algeria, Tunisia, Maldives, Qatari, Washington, Abu Dhabi

☆ Nvidia CEO Jensen Huang addresses rising competition at first shareholder meeting since stock surge
▼ + stars: | 2024-06-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Huang's comments came during the Q&A period of Nvidia's first shareholder meeting since the company's stock began to surge, after Wall Street's heightened interest in the company's dominant position in the AI chip market. Since last year's meeting, the company has been on a historic run: Nvidia's stock is up 193%, its shares split 10-1, the company passed a $3 trillion valuation and it briefly reached the status of most valuable company in the U.S. The first question Huang answered Wednesday was about the company's competition, as traditional chipmakers and startups alike release products intended to challenge Nvidia's more than 80% market share in AI chips. Nvidia shareholders were pleased with the company's performance and approved a nonbinding vote on executive compensation called "say on pay." Nvidia executives are paid in a combination of salary and various kinds of restricted stock units.

Persons: Jensen Huang, Huang's, Wall, Huang Organizations: Nvidia, U.S, NVIDIA

☆ Nvidia's moat will be tested by a potential AI chip IPO
▼ + stars: | 2024-06-26 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Cerebras Systems, a startup trying to challenge Nvidia on the AI chip battlefield, is reportedly headed for an IPO toward the end of 2024. This is one of the primary elements holding back even some AWS customers from using Amazon's AI chips. But, most AI developers must go through gnarly work to change their software if they want to change their hardware. His startup Vimaan is building tech for a future "dark warehouse" that requires no humans to operate. Advertisement"Am I gonna take a chance to switch out a whole infrastructure that we've built on the Nvidia platform?"

Persons: —, Lior Susan, Susan, CUDA, Thomvest, they're, He's, Padval, Jensen Huang, Thomas Sohmers, Ganapathi, Vimaan, Pavdal Organizations: Service, Cerebras Systems, Nvidia, Eclipse Ventures, Business, CUDA, NVIDIA CUDA, AMD, Qualcomm, Google, Intel, UXL Foundation, Amazon's Industrial Innovation Fund Locations: CUDA

☆ Micron shares slide after revenue forecast fails to top estimates
▼ + stars: | 2024-06-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Micron shares fell about 3% in extended trading on Wednesday as investors looked past better-than-expected results and focused instead on a revenue forecast that was in line with estimates. Analysts were expecting earnings per share of $1.05 on revenue of $7.6 billion. Micron CEO Sanjay Mehrotra highlighted the company's AI business in a statement while saying that its smartphone and PC markets remain sluggish. On a call with analysts, Micron said that its high bandwidth memory, the kind used in AI chips, is sold out through 2025. "We believe that Micron will be one of the biggest beneficiaries in the semiconductor industry in the multiyear growth opportunity driven by AI," Mehrotra said.

Persons: Sanjay Mehrota, Sanjay Mehrotra, Mehrotra Organizations: Micron Technology, Micron Locations: Davos, Switzerland

☆ Stock market news: US stocks slide and bond yields rise as traders eye new economic data
▼ + stars: | 2024-06-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks ticked lower on Wednesday. Major averages ticked lower, while bond yields rose. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks slumped on Wednesday, with major averages down as bond yields rose as Nvidia shares wavered and investors eyed fresh economic data. Nvidia shares slid as much as 1.2% in early-morning trading before paring losses, trading about 0.25% higher shortly after the opening bell.

Persons: —, Morrison, Dow Jones, Michelle Bowman Organizations: Nvidia, Service, Fed, Treasury, Here's

☆ Kunst: Treating Nvidia like any other meme stock is dangerous
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKunst: Treating Nvidia like any other meme stock is dangerousSarah Kunst, Managing Director at Cleo Capital, discusses Nvidia's rebound, hedging against a tech downturn, and market rotation.

Persons: Sarah Kunst, Capital Organizations: Nvidia

☆ Nvidia CEO: Blackwell Architecture will likely be the 'most successful' product in our history
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia CEO: Blackwell Architecture will likely be the 'most successful' product in our historyCNBC's Seema Mody joins 'The Exchange' to report on Nvidia's annual shareholder meeting.

Persons: Seema Mody Organizations: Nvidia, Blackwell

☆ It looks like Nvidia failed to soothe skittish investors
▼ + stars: | 2024-06-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Huang also failed to mention during the meeting when exactly the company's next-generation AI chip, Blackwell will become available, although he said it would be "the most successful product" in Nvidia's history. Nvidia serves over five million developers and 40,000 companies, including thousands of AI companies. Nvidia declined a request for comment from Business Insider.

Persons: —, it's, Jensen Huang didn't, Sam Altman, Elon Musk, Huang, Blackwell Organizations: Service, Microsoft, Business, Google, Nvidia

☆ This 28-year-old fund consistently beats the S&P 500 — without megacap tech stocks. Here's its strategy
▼ + stars: | 2024-06-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

One fund has a formula that has enabled it to consistently beat the S & P 500 : the Hennessy Cornerstone Growth Fund. The fund uses a formula-based strategy for investing, according to its portfolio managers Neil Hennessy, Ryan Kelley, and Joshua Wein. "We're trying to combine value with momentum and some growth," Kelley said. Stocks the fund owns Most of the stocks in the outperforming fund aren't actually in tech but in the industrials, consumer, financials and health-care sectors — because of the formula they use. It is the only name which survived in the recent rebalancing to the current batch of 50 stocks, said Wein.

Persons: Neil Hennessy, Ryan Kelley, Joshua Wein, Kelley, Wein, They've, We're, aren't Organizations: Cornerstone Growth Fund, CNBC Pro, Micro Computer, Urban Outfitters Locations: United States

☆ CNBC Daily Open: Nvidia rallies after sell-off, lifts S&P 500 and Nasdaq
▼ + stars: | 2024-06-26 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia sparks rallyThe S&P 500 and the Nasdaq Composite snapped a three-day slide as Nvidia rebounded from a sell-off. Trump inflation warningSixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including 'reignite' inflation. "There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets," they said.

Persons: Goldman Sachs, Rivian, Donald Trump, Joe, Donald Trump's, Michelle Bowman Organizations: New York Stock Exchange, CNBC, Nvidia, Nasdaq, Dow Jones, Boeing, Home, Treasury, Volkswagen, VW, Ford, Detroit automaker, Trump, Federal, European, Microsoft, Salesforce, Dow Locations: New York City, EU

☆ Samsung has to be part of Nvidia's supply chain for Korea market rally
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSamsung Electronics needs to be part of Nvidia's supply chain for Korea market to rallyStanley Tang of Sumitomo Mitsui DS Asset Management says that "it is a matter of time" before Samsung becomes a part of Nvidia's supply chain.

Persons: Stanley Tang Organizations: Samsung Electronics, Sumitomo Mitsui DS, Management, Samsung Locations: Korea

☆ Rising competition still wouldn't impact Nvidia's growth, says Futurum's Daniel Newman
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRising competition still wouldn't impact Nvidia's growth, says Futurum's Daniel NewmanDaniel Newman, Futurum Group CEO, and Sarat Sethi, DCLA managing partner, join 'Power Lunch' to discuss Nvidia as the company holds its annual shareholder meeting.

Persons: Futurum's Daniel Newman Daniel Newman, Sarat Sethi, DCLA Organizations: Futurum, Nvidia

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